The company operates the Macraes gold mine in East Otago, which has been a major contributor to the fortunes of the company for nearly 30 years. Although operated from Australia, Oceana Gold - which started as Macraes Mining - has its roots in Otago.
Oceana Gold also operates the Waihi mine, in the North Island.
Oceana Gold chief executive Mick Wilkes said the decision to delist from the NZX was prudent and did not in any way change the company's commitment to its New Zealand business or future investments it planned making in the country.
``Our operations in New Zealand are an important component of our overall global business and our valued New Zealand workforce represent some of the most talented employees in the mining sector anywhere in the world.''
The breadth of experience Oceana Gold had from its New Zealand workforce had laid the foundation for the multitude of the company's achievements technically, environmentally and socially. They, along with the valued stakeholders in New Zealand, were a vital part of the future, Mr Wilkes said.
Craigs Investment Partners broker Peter McIntyre said 60% of Oceana Gold's gold production still came from New Zealand but that would change once Haile, in the United States, increased production.
``New Zealand is still an important piece of the jigsaw for Oceana but they are a global player.''
Didipio, in the Philippines, was tagged as the ``flagship operation'', he said.
Oceana's New Zealand share trade levels showed no significant trading occurred in this country.
Oceana Gold was a top-four Australasian miner and its head office was in Melbourne. Many of the analysts who covered mining were based in Australia and Australia's markets were filled with mining stocks.
Australian and Toronto stock exchanges were important for capital raising for Oceana Gold as investors in those countries understood mining companies, Mr McIntyre said.
``This is desperately disappointing from an Otago perspective but it is a sign of the times of where Oceana Gold is heading. Nothing really changes as far as the company is concerned.''
New Zealand investors used buying and selling shares on the NZX in New Zealand currency would have to buy on the ASX in Australian dollars, he said.
``For many, it won't be as simple but it can and will be done.''
Mr Wilkes said the company expected to realise benefits for shareholders by delisting from the NZX, including a reduction in the company's legal and regulatory costs mainly from less compliance requirements.
The company also expected New Zealand shareholders could benefit from increased liquidity of the company's securities on the ASX as a result of concentrating trading volumes in New Zealand and Australia on the ASX.
On the delisting date, shareholders on the New Zealand register would automatically be transferred to the Australian register and their shares listed on the ASX in the form of CHESS depository interests (CDIs).
CDIs were a type of security used by the ASX to allow foreign companies to trade on the ASX. The structure existed because Oceana Gold was a Canadian company with a right to trade securities on the ASX through CDIs.
For the year ended December 2016, Oceana Gold expected to produce 385,000 to 425,000 ounces of gold from the combined New Zealand and Didipio operations and 19,000 to 21,000 tonnes of copper from the Didipio operation at all-in sustaining costs of $US700 to $US750 ($NZ992 to $NZ1063) an ounce.
